Member Info for Ilovesushi

Kept afloat by fundraising and selling shares. Nothing is going to change. it costs more to make their equipment than the money they make in profit.

Downward spiral. Shame the batteries are good. Just cost too much to make. Like the EV industry on the whole there is a big pull back. Anther fundraise?

Avani to call in loans and put the company into administration. Then take the assets from the administrator to cover loans. Looks like it is back into care and maintenance from whence it came. Its all over guys. The company is finished. Do not top up. Shares will be suspended soon. Then some time after, delisting. avoid

Looks like the company is finished as too many shares will have to be issued to raise any significant amount of money to keep the company afloat.

Looks like another RiverFort Global Opportunities PCC Limited and YA II PN Ltd death spiral. They are not supposed to short and say they will not but surely they can sell their holdings and each time get more shares in a dilution? Or have they had enough and will walk away?

Looks like the company is unable to raise the funds this time. RIP administration cannot be far away. AVOID

MBU Capital Group Limited have called a requisition as they can see Avani is going to take this to administration and then get given the assets as they are head lender. They will fail.

The company soon to suspend the shares and tell all the shareholders there is little value left. Company to be delisted withing 3 months after suspension. No reason for Avani to keep a listing. It is going private: SORRY GUYS. Get what ever you can out while some value remains.

SKIPPY

"The RNS clearly states what the 5m is for and it isnt just 'survey in Namibia'".

Todays fundraise is for post well work for Alsaska. Which are non commercial. of 2D Seismic program in

Namibia and primarily to keep the lights on and salaries.

Today actually new drilling they will need to issue about 5-10 Billion more shares. AVOID. By the end of this year they will do a massive substantial fundraise at a massive discount. Expect share price of 0.10 then 0.05. and or more consolidation. avoid.

Other funding will be requited to horizontal drilling. As many as 10B more shares could be issued. Todays raising of £5M is not for drilling new wells in Alaska. It is for survey in Namibia. Not even for drilling Namibia.

AT LEAST 3-4 MORE FUNDRAISES TO COME THAT WILL COMPLETELY WIPE YOU OUT. FOR GOD SAKE DO NOT THROW MORE MONEY AT THIS.

AVOID.

TALLPAUL

"It says the NEW shares will start trading on the 25th. What about the existing suspended shares".?

When the shares are back from suspension the new shares will trade along side( ParuPasu) the old shares. Await then holding RNS next week as those holding need to report their total holdings minus plus added shares.

Lets see if the good Doctor Graham increased or decreased.

I cannot see it being abled to issue more shares. It will certainly be heavily discounted. All value will be lost. If no one supports this raise, the next stop can only be administration. Türkiye was the killer.

That gusher down in Gatwick is non commercial. Who would buy a stake in it? UKOG could suspend the shares at any time. AVOID

Probably was not able to raise more than £5.0. And to think this is not for much more than 2D seismic in 2024 in Namibia. God knows how many shares it will issue for the next drills. Cant see who would buy the billions of shares. Would have to be 10B or more just for one horizontal drill in Alaska.

Will Alaska be abandoned? Still they will need a raise for new drills in Africa. AVOI GUYS ABOID AT ALL COSTS. Next Fundraise at about 0.1 then 0.05.

This is how the company survives. Total wipe out for investors. Future of more issues. Steer clear.

The amount of £5M will not do much. They will need a minimum of 4-5 times this figure for horizontal wells. More dilutions will come here. The next one will be about 0.1 the one after that 0.05 then 0.001. GET OUT GUYS. This company even when it gets the money has no real certainty these wells when drilled horizontally will improve the non commerciality of these last two wells. All investors to be completely wiped out on the next fundraise. If not already. AVOID

2nd Biggest shareholder wants a meeting. What a disaster.

Avani is now essentially the owner as largest creditor and will call all the shots. Ben will shortly be suspended and 3 months later the company will be delisted.

Avani now hit the court with DIP for $14 million. No way out for Ben with production dropping. RIP

The amount of £5 million is not for the new horizontal wells. They must be £20 Million or more. This is just to keep the lights on a bit longer. Poor recent results and non commercial wells. AVOID. More dilutions to come. 0.1 and 0.05 soon after. Then the usual consolidations where all shareholders are wiped out.

£5 million raised will not allow them to do Horizontal wells in Alaska. Expect more shares some time down the line. May 10 billion next time with all shareholders completely wiped out. AVOID THIS. All this company has is non commercial wells. There is no business here and with just more expected future dilutions. AVOID LIKE THE PLAGUE.

They will not do horizontal wells at the amount. Expect further fundraise after this one. 0.1 then 0.005. Shareholders to be completely wiped out.

IT WILL NOT BE ENOUGH FOR EXPENSIVE HORIZONTAL WELLS. Expect further dilutions in the future. 0.1 the next fundraise and 0.05 the one after that.

The two present wells are non commercial.

I doubt they can issue more shares. No one wants them. So if they cannot issue shares there is no cash and it all folds. Better let it go. Do not put more cash here to support the lifestyle of the management who have failed. There never was a gusher. There was a water well which had a bit of oil with it. NEVER COMMERCIAL. Shareholder led up the garden path and deceived. Avoid any company that gets support from RiverFort Global Opportunities PCC Limited and YA II PN Ltd ("Investors") These people seem to just make matters worse. God knows how they make money from this but they do or why do it? Do they push the price down and they get shares at a lower price? Surely it is time for ADMINISTRATION

Why the hell did you people give authority to issue more shares? Downward death spiral by the usual backers who in my opinion look like they forward sell then buy into the heavily discounted share issue. So what is coming next guys? Can you work it out? It cannot be hard. You are all going to be diluted again. Would have been better for all not to have given the company any more authority to issue shares. They need more money now to keep the gravy train and the life style up. Share price to continue to fall to nothing.

Looks like it is going under and shares will be suspended.

LOOKS LIKE ANOTHER FUNDRAISE IS ABOUT TO DROP AGAIN. HOW MANY SHARES THIS TIME? WHEN WILL IT END?